BTCUSD ETHUSD - Market Analysis for Feb 15th, 2019

BTCUSD and ETHUSD: nothing changed - initial impulsive looking patterns off respective lows did not yet complete.
Ideal targets - resistance regions marked by the lower red lines - remain unchanged. Worth adding that the 4th waves may take up to 70% of time of an impulse - so I am patiently waiting for completion of initial 5 waves up on both charts and following reaction.
Prior analysis posted earlier this week remains unchanged.

...initial targets (and meaningful resistance regions) marked with lower red lines are not hit yet. Yesterday's updates remain fully applicable.
Pullbacks from the target regions will provide us with clues regarding probability of next extensions to the upside (to the upper red lines - or higher).

BTCUSD: while the low very well may be in place I still see some uncertainty and going to get more signals from forthcoming price actions to come up with more reliable micro counts. 4 hr scale is best for explanation.

First note: below 3775 I can not consider BTC bottomed - expanded flat correction followed by drop to 3288 region is still quite feasible scenario. And this initial impulsive pattern off the low seems to be going to top exactly in the 3775 area - so reaction will tell.
Second note: IF the count off the low is correct then 4442 resistance region very well could cap this rally - as so far it seems to be following CORRECTIVE Fib proportions off the low (until now at least). This perspective leaves lower low scenario alive - please keep it in mind until 4442 is taken out in clearly impulsive manner.
Being extremely volatile asset BTC can topple all my concerns during one trading day (not tomorrow hopefully - 3775 region first) - but given the aforementioned signal levels I remain neutral and cautious.

ETHUSD: I keep watching impulsive pattern off the low - which is not yet complete - and point out the key resistance regions I am watching.
Analysis applied is similar to the one ... for the BTCUSD:
- initial resistance region is 128 area - there we need corrective pullback to sustain to be certain on higher targets.
- 173 resistance region is what I am going to track for the next confirming signal - impulsive count to the upside supposes strong rally through this resistance while inability to take out this region on strong technicals could provide us wil lower low - and thus far this scenario remains alive.

BaseCase - BTCUSD - Primary - Feb-15 1548 PM (4 hour)
BaseCase - BTCUSD - Primary - Feb-15 1548 PM (4 hour)
BaseCase - ETHUSD - Primary - Feb-15 1549 PM (4 hour)
BaseCase - ETHUSD - Primary - Feb-15 1549 PM (4 hour)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.